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I ran across this (Anthoy’s) site last week. I’ve since read a few of the articles and watched a few videos. I have to say that I agree with almost everything I’ve seen so far.

I have recently started my own blog on the same topic. My approach is to take the readers along the same basic path that I followed to arrive at my present understanding. I am aiming for a level of understanding among readers whereby we can see clearly that there is no legitimate justification for bank ownership of the monetary system. We must become clear that, although banks make claims against all labour and assets by the lending system, they offer nothing in return for the claims except minimal accounting and technology. The work that substantiates the value of the money is given by the “borrower”, not the lender (for bank loans, that is).

One other interesting point that I would like to make: In the present state of affairs, banks are lending at very low interest rates but financial assets that they own and control are ballooning at an incredible rate. It isn’t interest charges that allow this. It is a product of the ability of banks to create money in their own names for the purchase of financial assets. There is no explanation for the tremendous growth in financial sector wealth and instuments that can be tied to real productivity and value creation through labour. This is a condition that is obvious from reviewing national accounts. The derivatives issue is many times larger but is a separate issue.

Keep up the good work, Anthony. I will be keeping an eye on your stuff in the future.

According to Michael Hudson, usury may be nominally prohibited but not in practice.

“Murabaha loans: Moslem law bans the charging of interest (usury), but permits loopholes that achieve a similar economic effect in practice (see Agio). A murabaha mortgage loan is extended without nominal interest to purchase a house or other property, but the borrower pays a rental charge set high enough to incorporate what is in effect a rentier interest charge.”